I inherited over N220bn debt – Akeredolu

Eyes Of Lagos gathered that , The Ondo State Governor, Mr. Rotimi Akeredolu, on Wednesday said he met a staggering debt of N220,588,125,731.00 when he assumed office in February 2017, saying the economic situation of the state was also in bad shape.

Despite the economic condition, the governor said, his administration had designed some ways to boost the Internally Generated Revenue, which he said would soon yield positive results.

Akeredolu stated this at the swearing-in ceremony of new commissioners and special advisers held at the International Event Centre in Akure, Ondo State.

He declared that with the current state of the state’s economy, there would be no room for waste, reiterating that he would not borrow to pay workers salary; and that if there was any need to borrow, he would only borrow to execute capital projects.

He said, “With a total inherited debt of over N220bn, it should not be difficult for anyone to know that the government’s capacity for seeming elastic adjustment to cater for the people has been stretched to its limit.

“There is no gain asserting the obvious; our administration is not in any position for frivolities. All of us must gird our loins for the great task ahead.

“The picture is not good. Therefore, all acts with the potential of pushing us deeper into economic crisis must be jettisoned. We earnestly promise to provide the needed leadership.”

While swearing in the new commissioners, the governor said they (new commissioners) were capable hands who would assist him in moving the state forward, admonishing them to shun all acts of corruption.